The dynamics of capital structure in transition economies

This paper uses a dynamic unrestricted capital structure model to examine the determinants of the private companies’ target financial leverage and the speed of adjustment to it in two transition economies, the Czech Republic and Bulgaria. We explicitly model the adjustment of companies’ leverage to a target leverage, and this target leverage is itself explained by a set of factors. The panel data methodology combines cross-section and time-series information. The results indicate that the Bulgarian corporate credit markets were less supply-constrained than those of the Czech Republic during the period under investigation. Bulgarian companies adjusted much faster to the target leverage than Czech firms. The speed of adjustment related positively to the distance between target and observed ratio for Bulgarian companies while the relationship was neutral for Czech companies. The conservative policies of Czech banks and the exposure control were likely responsible for the slower adjustment among the larger companies while the opposite were true for Bulgarian banks and companies.capital structure, leverage, dynamic adjustment model, the Czech Republic, Bulgaria

Doenças Profissionais e a Medicina Legal (poster)

Poster apresentado no 16º Congresso Nacional de Medicina Legal e Ciências Forenses : 1ª reunião da rede de serviços médico-legais e forenses de portuguesa, Coimbra, 2017A doença profissional é aquela que é contraída pelo trabalhador na sequência de uma exposição a um ou mais fatores de risco presentes na atividade profissional, nas condições de trabalho e/ou nas técnicas usadas durante o trabalho. A regulamentação do regime de reparação das doenças profissionais está contemplada na lei nº 98/2009, de 4 de setembro e a lista das doenças profissionais está contemplada no decreto regulamentar 7/2007 de 17 de julho. A participação obrigatória (decreto-lei nº 2/82, de 5 de janeiro) de suspeita/agravamento de doença profissional reveste-se de enorme importância no âmbito da proteção e promoção da saúde dos trabalhadores, dado que quando confirmada pelo Instituto de Segurança Social, I.P., poderá desencadear medidas preventivas e corretivas no local de trabalho. Os examinandos têm contacto com o INMLCF, afim de serem submetidos a exames periciais singulares, por ordem do Ministério Público, por desacordo com a seguradora, quando esta não assume a lesão/sequela como resultante de acidente de trabalho, mas sim como doença profissional (Art.º 102º, n.º 1 do Código de Processo de Trabalho). O presente trabalho tem como objetivo esclarecer o circuito processual da certificação das doenças profissionais, assim como, perspetivar o papel do perito médico nestas situações.N/

Fluid intake of Latin American adults: results of four 2016 Liq.In7 national cross-sectional surveys

Purpose: To report total fluid intake (TFI) and the intake of different fluid types in adults (= 18 years old) from Mexico, Argentina, Brazil and Uruguay. To compare intakes between countries and with recommended adequate intake (AI) of water from fluids. Methods: Cross-sectional data were collected using a validated liquid intake 7-day record (Liq.In7) in populations from Argentina (n = 1089), Brazil (n = 477), Mexico (n = 1677) and Uruguay (n = 554). Population characteristics, including age, gender, body mass index and socioeconomic level were recorded. Mean TFI was compared with the AI of water from fluids set by the USA Institute of Medicine. Results: The lowest TFI was recorded in Mexican women (1748 mL/day) and the highest in Argentinean men (2318 mL/day). Median daily TFI was significantly different between countries; Uruguay and Argentina had higher values than Mexico and Brazil. In the former, plain water contributed to only 25% of TFI, the remainder being predominantly from hot beverages. Approximately, a third of adults did not drink enough fluid to meet the recommended AI. High SSB consumption was reported, which was significantly different between countries (p < 0.05), the highest being in Mexico (median 25–75th percentiles): 531 (300–895 mL/day. Conclusions: This survey highlights the need to increase water consumption and reduce SSB intake in this region to avoid potential associated health risks. These findings may be useful information in monitoring public health policy strategies

State Funerals in Dubrovnik in the Seventeenth and Eighteenth Centuries

The author analyses the forms of state funerals organised for the rector, the secretary, and the archbishop of Dubrovnik, and the bishop of Ston in the 17th and 18th centuries. In doing so, she points to the transformation of these rituals through the separation in the ceremony of the “private” from the “official”. Based on the introduction of the funeral effigy, she studies different layers of the ritual and the theatrical aspect of the ceremony. By comparing it to other European environments, the author establishes and interprets specific features of the funeral rituals of Dubrovnik and emphasises their value in conveying the image of authority and order